Bitcoin News and Finance
Latin American Countries Eye Bitcoin Adoption After El Salvador Passed Bitcoin Law Skip to main content

Latin American Countries Eye Bitcoin Adoption After El Salvador Passed Bitcoin Law

Latin American Countries Eye Bitcoin Adoption After El Salvador Passed Bitcoin Law

A number of lawmakers in Latin American countries have expressed their interest in bitcoin following El Salvador passing the law making the cryptocurrency legal tender. The countries include Paraguay, Argentina, Panama, Brazil, and Mexico. Tonga and Tanzania have also reportedly expressed interest in bitcoin.

More Countries Eye Bitcoin Adoption

After El Salvador passed the bill making bitcoin legal tender alongside the U.S. dollar, a growing number of lawmakers in neighboring countries have either expressed their interest in making a similar move or put laser eyes on their Twitter profile pictures.

The laser eyes meme has swept through the bitcoin community since February with the underlying meaning that anyone donning the eyes is laser-focused on bitcoin’s price rising to $100,000. Politicians, celebrities, and investors have partaken and put laser eyes on their profile images.

Gabriel Silva, Member of Parliament in Panama, tweeted congratulating El Salvador when the bitcoin law was approved. “Good news for El Salvador who is teaching the government of Panama in entrepreneurship and technology. We have to think beyond the canal and free zones, betting on the knowledge economy, quality education for all and facilitating new businesses.” He emphasized:

This is important, and Panama cannot be left behind. If we want to be a true technology and entrepreneurship hub, we have to support cryptocurrencies. We will be preparing a proposal to present at the assembly.

Carlitos Rejala, a congressman and the National Deputy of Paraguay, has called for his government to take similar action to El Salvador. Putting laser eyes on his profile picture, he tweeted: “As I was saying a long time ago, our country needs to advance hand in hand with the new generation. The moment has come, our moment.”

Fábio Ostermann, an elected member of the Legislative Assembly in Rio Grande do Sul, Brazil, has also put laser eyes on his profile picture. Argentina’s deputy Francisco Sánchez also temporarily put laser eyes on his profile picture, tweeting, “I can’t believe it, but this is how it is.”

Commenting on the growing list of countries becoming interested in bitcoin after El Salvador’s bitcoin law passed, Tyler Winklevoss, co-founder of cryptocurrency exchange Gemini, tweeted last week:

First they ignore you, then suddenly Paraguay, Argentina, Panama, Brazil, El Salvador, Nicaragua embrace bitcoin.

Several lawmakers in Mexico also put laser eyes on their profile pictures, including Senator Indira Kempis, who replied to the tweet by Tyler Winklevoss with an emoji of the flag of Mexico. Moreover, Senator Eduardo Murat Hinojosa has announced plans to bring a regulatory proposal on cryptocurrencies before the national Legislative Branch. He tweeted last week:

I will be promoting and proposing a legal framework for cryptocurrencies in Mexico’s lower house.

Some other countries that have expressed interest include Tonga, a Polynesian country, and Tanzania, an East African country. President Samia Suluhu Hassan has called on the Tanzanian Central Bank to begin working on facilitating the widespread use of cryptocurrencies in the country. In Tonga, Lord Fusitu’a, Member of Parliament of the Kingdom of Tonga, is a bitcoin advocate. He has laser eyes on his Twitter profile picture and has attended a Twitter spaces meeting with bitcoiners to discuss how his country can benefit from the cryptocurrency.

El Salvador could set a trend of nations adopting bitcoin. JPMorgan recently said that “similarly situated” countries could follow El Salvador’s move to make bitcoin legal tender. Meanwhile, the International Monetary Fund (IMF) says it sees legal and economic issues regarding this move by El Salvador.

Do you think more countries will make bitcoin legal tender like El Salvador? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory